Social media platform Twitter Inc. expects to double its annual revenue to at least $7.5 billion in 2023 from $3.7 billion in 2020, the company announced in a filing to the Securities and Exchange Commission.
- Twitter targets to reach at least 315 monetizable daily active users (mDAU) by end-2023 which represents a 20% compounded annual growth rate from 152 million base in fourth quarter of 2019.
- Company also reiterated long-term target of mid-teens operating margin or 40-45% adjusted EBITDA margin.
- Chief executive Jack Dorsey earlier announced possible content subscriptions and tip payments for users.
- Twitter last month acquired Revue and started looking at an audio chatroom feature dubbed as “Spaces,” on top of previously launched features such as “Fleets” in November 2020.
- Company scheduled to hold virtual investor day Thursday.
TWTR: Nyse is up 9.64%
